Saudi Tadawul Group Holding (1111) Q4 2024 earnings summary

Executive summary

• Achieved robust financial and operational growth in FY 2024, reinforcing its position as a leading global capital market hub.

• Record financial performance driven by diversification, innovation, and enhanced post-trade infrastructure, resulting in increased international participation and market efficiency.

• Launched new indices and financial products, expanded global reach, and enhanced market infrastructure through strategic initiatives and partnerships.

• Celebrated key milestones, including the 400th listed security and the debut of government Saving Sukuk.

• Strategic acquisitions included stakes in DirectFN and Gulf Mercantile Exchange, expanding capabilities in commodities and data solutions.

Financial highlights

• Operating revenues rose 34.8% year-over-year to SAR 1,446.6 million ($385.7M), with EBITDA up 60.5% to SAR 647.2 million ($172.6M).

• Net income after Zakat increased 59.4% year-over-year to SAR 621.8 million ($165.8M), with a margin of 43.0%.

• Earnings per share grew 59.4% to SAR 5.18.

• Free cash flow reached SAR 532.1 million, up 46.8% year-over-year, with a cash flow conversion rate of 82%.

• Gross profit improved to SAR 911.8 million, up from SAR 606.8 million in 2023.

Outlook and guidance

• Strategic focus on growth, diversification, and global connectivity, aiming to position Saudi Arabia among the top three global stock markets and align with Vision 2030.

• Continued emphasis on sustainability, ESG adoption, and expanding product offerings to attract international investors.

• Focus remains on expanding regional and international investor base, introducing innovative financial instruments, and integrating sustainability across operations.